Brean Murray Carret Reiterates Buy, $32 PT on Portfolio Breadth

Brean Murray Carret maintains its Buy rating and $32 price target on EMC Corporation (NYSE: EMC) following the announcement of the company's newest offerings.

Brean Murray Carret says, "Yesterday, at EMC World, the company announced a number of new products and updates – another step in EMC's strategy to offer the industry's most robust storage and data management portfolio. …Our take is that VSPEX's “Bite” should be sharper than the “Bark” – meaning we believe there are teeth here to increasingly drive EMC channel sales which have been growing 20%+ y/y. Recently announced VSPEX is what we consider a “reference” architecture or a networked storage & Cloud architecture “blueprint” for mid‐tier enterprise and small & medium business customers."

EMC closed at $25.75 on Monday.